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and comprehensive package to shrink the deficit by $1.8 trillion over 10 years and are meant the fiscal uncertainty that hampers economic growth and job creation. this remark does not represent the starting point for negotiation. represent tagamet savings and additional roadrunners for those of the. the two cannot be separated and were not separated last december when we were close to a bipartisan agreement. this budget provides achievable solutions to fiscal problems, the crucial a solution desired, we have to do more than focus on deficit and debt. the significance of balancing the budget is clear as ranking member then holland noted, i hope negotiate the groundbreaking agreement with congress to do just that as budget director oversaw three budget surpluses and worked with many on the left in right on a plan to pay off our debt. that does not mean we should make deficit reduction are one and only priority. in addition to ensuring sound fiscal fitting we will have everyone of these initiatives paid for in our deficit reduction package can i mean day donati done to the deficit. as the president ex
to have a flat tariff of 10% or 20% or 30% whatever it takes to get to a zero trade deficit that doesn't introduce a lot of corruption or a lot of dangers bad policymaking because it's a very simple policy. it's just determined by an arithmetical formula and there's no opportunity for anybody to play games. one of the good things about it if you have a flat tariff, is if you had a 30% tariff on imported goods that's not enough to relocate the production of t-shirts that united states because cost is too great. it's great to relocate things like silicon wafer fabrication so would tend to relocate back to the u.s. high value capital-intensive skill intensive industries which is of course what we want to do. those are the industries that are high-quality -- high-quality into she wants to have and those are the industries that don't want to lose. i point that out just to point out that if you do get serious about protectionism, protectionism has a logic to it which if you understand what that logic is, i think it would be possible for the u.s. to make a winner out of this. whether we shoul
and to think it gain access. [inaud last year, and i think, and if you look at this, we have, for every deficit, for every level of deficit, it's the -- [inaudible] we have witnessed the difference in the labor costs between different member states. [iudible increase and going down, slowly, but going down, not increasing. greece as risen up in the last quarter, this last year. they made a lot of process in reducing deficit as well. therefore, we are regaining confidence. if you look at markets, markets are very -- gained a lot of confidence, and bonds for all all the members areding italy, below. there used to be -- that's what they say. what we are doing now is the next step of ing abaning union. , we healady a great great -- you need strong european region of banks because our banking's cannot influence one member stating but several. we need the european -- the european -- been commended, implement of supervisory, things into coming weeks, has been already decide thed. we will build -- we have european, i think, relation on insurance. we have european regulation, just not yet decided, and th
deficit at or close to $1 trillion for five straight years. millions of americans are out of work or living in poverty. the highest rates we have seen in a generation. the administration's response seems to be more of the same. more spending higher taxes and record debt. what we can't keep spending money we don't have. we need a new approach. we need an approach that encourages economic growth. the longer we delay fundamental reform. the longer we delay a real recovery. our national debt is weighing down our country like an anchor. it's weighing down our economy. it's making it harder for us to get ahead. the administration claims that if we approve the budget we'll have reduced deficit by 4.3 trillion. this is not true. i want to break it down and they'll show me how. the administration said we reduced deficit by police $2.6. the president is responsible for all the policy enacted before when he was in office for the first two years. if you add back the money for the stimlis, the payroll tax holiday, the 24% increase in domestic spend. total deficit reduction when you net it out
faces significant problems and if we don't address the deficit, i've become more and more convinced that we don't necessarily go gradually and problems that could go precipitously and i say that with reference to 2008 and the crisis that there is, even when things go pretty well, there are some lurking dangers within our economy. one would be interest rates rising. i asked this to people i consider to be smart, big bankers, nature capital centers of the world. can they control just raising keep interest rates below? is there a point at which the central cannot keep pace. interest rate to 7% are when i was a kid, 19% were 21% would be catastrophic with this burden of debt. he seems to work right now, but there is a certain allusion of wealth in the stock market and evolution of the peace we can manage our debt. those are my concerns and because of that, we have to do long-range things. i propose several things since i've come. i propose fixing a security problem. to me it's an actuarial problem. you raise the age gradually 27862 thirds of the social security deficit. fix the remainin
folks over there. if the republicans are serious about reducing the deficit, we need to get to work. get to work sooner rather than later. what is regular orde order? it means do things the way you're supposed to, by the book, so to speak. so i'm g going to ask that const soon. mr. president, let's talk about sequestration just for a brief timtime. i talked about it yesterday when the senate convened. on sunday the federal aviation administration implemented sequester furloughs that will affect tens of thousands of employees. and by monday, yesterday, travelers were already experiencing delays at airports from coast to coast. according to "the wall street journal," flights to new york airports were delayed more than an hour already because of these furloughs. delays were also reported in los angeles and even baltimore. the f.a.a. has assured us things will get much worse before the end of the busy summer travel season as these arbitrary sequester cuts continue to affect airport staffing levels. what it means is that every two weeks all f.a.a. employees will have to take a day off. at pea
legislation reducing the deficit by $1.2 trillion is required by the budget control act. as a result of that the dod funding for fy2013 was reduced by sequestration and the amount of $41 billion unless congress acts, the fy2014 dod budget will be cut by an additional $52 billion below the funding level which is in the president's budget for fy2014 and also the budget passed by the house and senate of representatives. weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military
to find a bipartisan way to reduce the deficit. thus far, it hasn't worked. we've reduced the debt by doing a number of different things, some $2.5 trillion worth. we've cooperated in that regard. the deep cuts required though by the sequester have failed to bring the republicans to the negotiating table to find more savings or more revenue. even after both the house and senate passed budget resolutions, the house republican leadership has refused to go to conference to work out our differences. republicans have been telling us for a long time that they wanted regular order. and we come to regular order, they don't want regular order. republicans are afraid to even be seen considering a compromise with democrats. and i speak more strongly that the republicans here in the senate are doing their objection here on going to conference more to protect the house because that applies so much more to the house republicans than it does the republicans over here. the republicans over there are afraid to be even seen considering a compromise with us. because republicans have refused to negoti
limiting further deficits. we have directed after our last board meeting last week that management look at every other option available once we made the vote to not go to the five day delivery on august 5th. we ask that they look at everything else available to us which would be to reopen the labor negotiations, to look at the filing of the rate case and then accelerate if possible thee procsi plants asickly as we can expeditiously deutsch. >> i recognize the ranking member. >> let's not kid ourselves, mr. dodaro. if the congress says will you to do something a certain way and the postmaster came back and said no i'm doing it my way the postmaster would catch hell i'm telling you everybody appear knows that and everybody knows that. so he was caught in a hell of a bond. and i want to go back to something that mr. bilbray said in his testimony so we can be very clear so i quote from his trends could and he said what me tell you this is a tough job we have to deal with a lot of bureaucracy in the administration the regulatory commission and congress and they are all our bosses and they tr
aancedproach to deficit reduction and strengthen the middle class. as i said, last week our focus in the next little while will be on guns and budget, talked about budget. i will be joined by my colleague, congressman mike thompson of california. congressman thompson is a vietnam vet, a wounded vietnam vet. he is a gun owner, hunter. is the head of our task force on gun violence prevention, and he is a co-author of the bipartisan bill in the house with peter king. to put forth a manchin-toomey compromise that failed, so sadly, in the senate last night. we are so disappointed. our sorrow was expressed so appropriately by president obama last night that i invited mike to join us here to tell you where we go from here and to answer the question that people are saying what can we do to change this. mike, would you speak -- thank you for your leadership. >> thank you, leader pelosi. it's a pleasure and honor to join you, to talk about and to answer any questions that you guys may have on gun violence prevention. -manchin amendment that failefailed last night, as i thk everybody knows. it was every
forward a comprehensive balanced approach to deficit reduction to eliminate the sequester, but this is congress' responsibility. it needs to take action. >> there is a couple of bipartisan group of senators making proposals. senators says the administration has the right to prioritize spending, and the senator suggesting the furloughs are postponed to give congress another chance to revisit sequesteration, other senators, republican and democrat, asking the transportation secretary and head of the faa if they might be able toe move money around. what's your response? >> well, a couple things. one, i think the fact that various lawmakers suggest remedies confirms what i said, which is only taking action to the result of the sequester that republicans insisted take place, but let's be clear about the faa cannot take because of the way the budgets are structured and the way the law imposing the sequester is written. they are required by law to cut about 1 billion dollars between now and end of the september. that's 637 million from the faa. the faa initiated a series of cost
. that means we're using deficit and regaining increasing competitiveness. becae a lo member states underestimated in the first years of the common currency that the pressure on competitiveness in the common currency resulted possibility of devaluation. it's huge. and if you don't improve your competitiveness, you will get major problems. it has happened in -- you will not feel it in the first years, but it will happen. and it did. therefore, we always have to -- [inaudible] member states, oblige member states to stick to european rules in, of course, a balanced way to enhance their competitiveness by structure reforms, and then we can, we have built a european mechanism through different systems to buy time until they regain access to financial markets. this worked in ireland, in portugal. in fact, in the last year we increase, by the way. i think it will work in cyprus as well. and if you look at the -- [inaudible] we have halved the national deficits in the eurozone in the last three years. delivering our commitment, by the way. we have halfved the difference in the -- halved the
significant problems, and i think if we don't address the deficit, if we don't address it, i've become more and more convinced that we don't necessarily go gradually into problems, that we could go precipitously into a problem. and i say that with reference to 2008 and to the crisis. that i think there is even when things seem to be going pretty well, there is and are some lurking dangers within our economy. one would be interest rates rising. and i ask this question all the time to people i consider to be, you know, smart, big bankers, people in the major capital centers of the world, can we control interest rates and keep interest rates low? is there a breaking point at which the central bank cannot keep interest rates at this point? because interest rates at 5%, interest rates of 7% or when i was a kid, interest rates of 19 president or 21%, i think, would be catastrophic with this burden of debt. seems to work right now, but i also think that there's a certain illusion both of wealth in the stock market and an illusion of the ease at which we can manage our debt. and so those are my con
-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues a major drawdown of active duty and reserve strength. we have in recent years given the department numinous force shaping authorities to allow it to reduce its strength in a responsible way ensuring that the services maintain the proper force mix and avoiding grade and occupational disparities, all of which have long term affect. if sequestration continues, the result would be ore pripitous foe structe that is ou of t the requirements of our defense strategy. sequestration has already affected military readiness. we have heard test
-inflicted wounds without adding one penny to the deficit. we've provided money, the money is there, we haven't spent it, we don't need to. we can use the savings from wrapping up two wars to avoid the full brunt of the sequester's arbitrary cuts. the congressional budget office said that would score; that money is available, it is money we could use. funding for the operation in ir a afgan has in alled overseas contin yeype account. since the worst of the seq cuts are creating an emergency situation, we should consider using thighs funds to offset their impact. these really are emergencies and we should do it. i am not proposing we use them to offset the entire sequester but congress has the power to avert the most painful sequester cuts using these mexico. 28 republicans in the senate and 174 republicans in the house would impose these sequester haphazard cuts. if those same republicans work with democrats, we could act to protect families and businesses and ensure our national defense and save millions of americans hours waiting at the airport. i suggest the absence of a quorum. the presi
the sided search for a piece deficit that i don't think exists. we went to that in the '90s. to undermine the readiness and capabilities to get the arsenal and they are expanding. we should be expanding hours. but to have a significant impact of the capabilities to reach the intelligence community just in time when we need it the most. to be asked about the effects of sequestration of the intelligence community and i have quoted you several times on this and it is very profound. olmec we're cutting real capability and accepting greater risk for intelligence shorter hours for public parks or longer lines at the airports for intelligence it is insidious. the capability you don't know about that until you notice that. you'll notice ny when we have the same" end quote. and i think that is the belief and the reasonthat is in the military is super bear to deal with threats around the world has the intelligence community uses capability.we are making us lese and i look to our witnesses how the current budget cuts accurately assess these threats especially those separate from resources. such talk
to have sustained and balanced approach to both reducing the deficit but making some of the critical investments that we need to make, and actually the budget anticipates -- >> we are all -- i should add, start in row. we are all cheers about the magnificent contribution to brain research. thank you. >> i think that's an example of the presidency believe that we ur proper t sinst, and certainly scientifc sech is one of the most critical investments to keep the innovation and research at the front and. so we very much support outlining the mapping strategy which could have a huge impact not only on the future but we think about health costs related to everything from autism to alzheimer's, and if you want to really get our arms around what's happened to health costs in the future, just brain mapping, has an enormous impact. and as you say, i think dr. collins estimates that is about a 71 return, that every dollar in research grant generates about $7 in economic activity in the community where those research grants end up in terms of jobs and scientists. so this is clearly a win-win in
today to address three issues. number one, the economic deficit of less skilled immigration. the u.s. work force is changing american family is having fewer children and birthrates are now well below levels. 10,000 baby boomers are retiring every day. and the lush and her workers coming behind them are much more educated than their parents. in 196064% of american workers were high-school dropouts. today the number is less than 10%. together these three factors have had a dramatic effect on the pool of americans available to fill low-skill jobs. it is no accident that my members are constantly complaining about the difficulty finding workers. the pool have to draw on a shrinking. for those seeking higher, unskilled man of prime working age the supply of u.s. workers is literally half the size it was in 1970. if a thing, demand is growing. in $0.195,525 of every dollar spent on food was spent in a restaurant. today it is $0.50. one of the fastest growing occupations in america is some help aid. many less skilled immigrant workers and only then increasingly in years ahead. aside from
Search Results 0 to 17 of about 18

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